May 29, 2024


Top Countries with the Best Average Salaries statistics

Looking for a job abroad and curious about which countries would pay the most for your skills?

Our guide to the top 20 countries with the best average salaries in 2023 will provide the answers to your questions. Whether you’re wondering about how much you can make as a highly-skilled specialist in Australia or how far your average salary will go in Japan, this guide has the latest info – and more.

Countries With the Best Average Salaries in 2023

TOP-COUNTRIES-WITH-BEST-AVERAGE-SALARIES-STATISTICS.

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These countries are spread around the world rather than being clustered on one continent. It’s no surprise, though, that their high wages are directly proportional to a high cost of living in most cases. Let’s take a closer look at their average salaries and minimum wages.

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20. Austria

Historical Data (EUR/ Month) by years austria

Source: Take-Profit

Average monthly salary: $2,700 (2021)

The first country on our list is Austria. It doesn’t have a legally set minimum wage in place at a federal level. According to Take-Profit, its latest average salary figures from 2021 constitute an average monthly salary of $2,700. In previous years, it was higher, reaching over $3,000 in 2020.

19. Sweden

sweden wages

Source: Take-Profit

Average monthly salary: $2,800

Sweden is the lowest-paid Scandinavian country on our list, but it’s not in a bad state of affairs by any means. Your salary in Sweden will go further than its UK equivalent, for instance. 

Like Austria, Sweden doesn’t have a nationally mandated minimum wage. However, it hovers at around 1,500 per month. The average salary in Sweden in 2023 is almost $2,800 per month, or SEK 31,000. In some industries, like manufacturing, it can reach as high as $3,000.

18. Japan

japanese wages

Source: Take-Profit

Average monthly salary: $3,000

The first Asian country on our list is the Land of the Rising Sun. Wages in Japan have been growing steadily in the last few years, and its minimum wage is $1,040 per month.

As of 2023, the average monthly wage in Japan is $3,000, or ¥446,000, and as with Sweden, manufacturing industry wages are significantly higher. If you have the right expertise, you can earn as much as $4,000 a month in Japanese manufacturing.

17. United Kingdom

uk earnings

Source: Office of National Statistics

Average monthly salary: $3,300

Given the UK’s significant shortage of highly skilled workers in various industries, you can secure a high-paying job with the right set of skills. However, the country is currently going through a cost-of-living crisis, meaning your money doesn’t go as far as it otherwise would.

The country’s national minimum wage in 2023 is £10.42 per hour, or $2,000 per month. According to national statistics, the average weekly pay packet in 2023 is £663, bringing the average monthly salary to £2,652, or $3,300.

16. Israel

Monthly wage Israel statistics

Source: Statista

Average monthly salary: $3,300

Israel‘s tech- and skills-focused economy has earned the country a place on our list. In 2023, the country’s minimum wage increased to ILS 5,571 (or $1,450), up from the previous period when it was ILS 5,300.

As of this year, the average monthly salary in Israel amounts to ILS 12,804, or $3,300.

15. Canada

canada wages

Source: Take-Profit

Average monthly salary: $3,500

The first North American country on our list has a higher-than-average minimum wage rate. As of 2023, Canada’s minimum wage is C$16.65. In US dollars, this amounts to almost $2,000 per month.

Canada is fifteenth on our list, thanks to its average monthly salary of almost $3,500. And as with the other countries listed here, the manufacturing sector pays more.

14. Australia

australia wages

Source: Take-Profit

Average monthly salary: $3,600

Australia’s wages have been growing for the last few years. In 2023, its minimum wage amounts to A$23.23 per hour, or A$883 per week. This constitutes an increase of A$70 from 2022.

Australia’s average monthly salary is just under $3,600. However, skilled specialists in the Land Down Under can earn over $4,200.

13. New Zealand

NZ wages

Source: Take-Profit

Average monthly salary: $3,700

Just slightly more lucrative than its not-so-close neighbor Australia, New Zealand offers an average monthly salary of over $3,700. Interestingly enough, its manufacturing salaries are below average, unlike many other countries on this list.

The minimum wage in NZ in 2023 is NZ$22.70, which has seen an increase of NZ$1.5 from 2022.

12. Ireland

ireland wages

Source: Take-Profit

Average monthly salary: $3,900

Living on the Emerald Isle might not be everyone’s pint of Guinness, but highly skilled workers and manufacturing experts can make over $4,100 per month in Ireland. The average wage in 2023 in Ireland is just under $3,900 per month or €910 per week.

As for the minimum wage, the Irish hourly minimum of 11.30 per hour is almost 20% higher than the equivalent in the UK.

11. Finland

finland wages

Source: Take-Profit

Average monthly salary: $4,200

Closing the bottom ten is another Scandinavian country – and this one is considered the happiest country in the world. In addition to Finland’s developed infrastructure and equitable society, a big reason for that might be the Finnish average monthly salary, which is almost $4,200 (€3,800) as of 2023.

Like Austria and Sweden, Finland doesn’t have a mandated minimum wage, but many companies have agreements in place with unions specifying rates.

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10. France

Average salary France statistics

Source: Statista

Average monthly salary: $4,400 (2022)

The tenth spot on our list belongs to France. The average annual salary in the country has grown by over $2,000 since 2020, reaching $52,700 in 2022. That amounts to approximately $4,400 per month – almost double the average salary in Austria, which is at the bottom of our list.

The minimum wage in France is slightly higher than the Irish one, amounting to €11.52, or €1,747 per month.

9. Singapore

singapore wages

Source: Take-Profit

Average monthly salary: $4,500

Singapore, the last Asian country on our list, doesn’t have a statutory minimum wage. Instead, it has a flexible and progressive system that benefits employers and employees. 

Singapore is a favorite among expats from around the world, thanks to the high quality of life and high wages. Its average monthly salary is $4,500, or SGD 6,250. However, these figures fluctuate depending on industry and the economy.

8. USA

USA wages

Source: Take-Profit

Average monthly salary: $4,600

If you’re looking to chase the American dream, you can forget about a high minimum wage – especially if you start out in hospitality. Many jobs in the field in the United States are tips-based, and the minimum wage is $2.13 per hour without tips. For other jobs, it’s $7.25 per hour in 2023.

However, certain experts can do very well in the US. Its average monthly salary in 2023 is over $4,600.

7. Germany

Average salary Germany statistics

Source: Statista

Average monthly salary: $4,900

It’s no surprise that one of the largest economies in Europe is so high up on our list. Germany’s minimum wage of over 12 per hour, or $2,000 per month, is higher than that of Ireland and France.

Germany is welcoming to expats and immigrants from all over the world. In 2022, its average annual salary was almost $59,000, amounting to approximately $4,900 per month.

6. Norway

norway wages

Source: Take-Profit

Average monthly salary: $5,000

Another Scandinavian country renowned for its quality of life, Norway narrowly misses out on the top five countries in our list. Despite its high living costs, Norwegian wages have been growing steadily, reaching NOK 54,000 in the second half of 2023, or just over $5,000.

Like its Scandinavian counterparts, Sweden and Finland, Norway doesn’t have a minimum wage in place, and employers negotiate rates with the relevant unions.

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 TOP-5-COUNTRIES-WITH-BEST-SALARIES-PER-MONTH

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The top five countries with the best average salaries are all in Europe, and all have an average monthly salary of over $5,000. Let’s find out more about them.

5. Belgium

Average wages European countries statistics 1

Source: Statista

Average monthly salary: $5,400 (2022)

Belgium, the political capital of the EU, which is famous for its chocolates, is in the fifth spot. Its minimum wage for 2023 is just under $2,100 per month.

The country’s excellent living standards, high levels of spoken English, and highly competitive salaries attract many expats from around the world. In 2022, Belgium’s annual average salary was $64,850, which translates to approximately $5,400 per month.

4. Iceland

iceland wages

Source: Take-Profit

Average monthly salary: $6,000

The northernmost country on our list might be cold and sparsely populated, but it offers a very high quality of life and is a champion of gender equality. Like its northern counterparts in Scandinavia, Iceland doesn’t have a statutory minimum wage, but statistics show in 2023, it was effectively ISK 368,000 per month, or over 2,400.

If you’re looking to move to Iceland, you can count on an average monthly salary of approximately $6,000.

3. Denmark

AVERAGE-MONTHLY-WAGES-IN-SCANDINAVIA

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Average monthly salary: $6,400 (2022)

The top Scandinavian country by average monthly wages is Denmark, which had an average monthly salary of $6,400 in 2022, or DKK 44,763. This figure reflects steady growth over the years – for instance, in 2021, the average wage in Denmark was DKK 43,800, or $6,200.

There’s no legally mandated minimum wage in Denmark, as in other parts of Scandinavia.

2. Luxembourg

luxembourg wages

Source: Take-Profit

Average monthly salary: $6,700

The second-best country for the highest salaries is a tiny nation in the heart of Europe. It may have a small population, but Luxembourg and its capital – with the same name – are home to some important European institutions, as well as the European headquarters of Amazon. Luxembourg’s average monthly salary reaches up to $6,700.

Unlike many other countries in Europe, Luxembourg has a statutory minimum wage, which is almost $2,700 per month.

1. Switzerland

switzerland wages

Source: Take-Profit

Average monthly salary: $7,500

The top spot goes to the land of cheese, clocks, chocolate, and banking – The Swiss Confederation, commonly known as Switzerland. There’s no minimum wage in the country, but an average monthly salary in 2023 is $7,500. This figure is almost triple the average salary of Switzerland’s neighbor Austria and almost double that of Ireland.

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